Lithuanians went crazy: record figures in the real estate market in September

“This September outbreak has further reduced the accumulation of annual transactions from last year. If the number of registered real estate transactions remains at a similar rate in the remaining months of this year, it can be expected that the overall result in 2020 will not is far behind 2019, ”says Paulius Rudzkis, Acting Head of the Data Analysis and Solutions Department at the Center of Records.

During the nine months of this year, the number of real estate purchase and sale transactions registered in Lithuania amounted to 90.4 thousand. and it was 4 percent. lower than in January-September of last year (94.6 thousand). Only in September, 12.7 thousand were registered. Real estate transactions: up to 19 percent. more than in the first fall of 2019 and 7 percent. more than in August of this year.

“The very good results in September were mainly due to the land market; the results in September were the best in recent years. Residential sales also continue to reach record highs,” says P. Rudzkis.

This year, 44.6 thousand were registered throughout the country. changes in the owners of the parcels – 1.5 percent. less than at the same time last year (45.3 thousand). Only in September, 6.4 thousand were registered. trace transactions – up to 27 percent. more than in September 2019 and 6 percent. more than in August of this year.

During this year, more than 9 thousand. individual residential home sales – 2 percent. more than in the same period last year. In September alone, more than 1.3 thousand were registered. residential sales – 19 percent. more than in September of last year and 1 percent. more than in August this year.

“September in terms of apartment sales was already close to the numbers seen before the quarantine, when more than 3,000 people were registered in a month throughout the country. apartment transactions. In addition, it was the busiest month for apartment transactions this year, both in Lithuania and in many cities in the country. The apartment market in the capital, although it is slowly rising, does not reach the record set at the beginning of the year, ”says P. Rudzkis, data analyst at the Center for Records.

During January-September, almost 23.1 thousand were registered throughout the country. apartment sales – 12.5 percent. less than in January-September of last year. Only in September, almost 3,2 thousand were registered. changes in apartment owners, or 8 percent. more than in September 2019 and 11.5 percent. more than in August of this year.

Šarūnas Tarutis, director of analysis and investment at real estate project management company Citus, is pleased that interest in housing in Vilnius has continued to grow. However, he would like the market to return to maturity: the number of bookings since the all-time high reached in February this year, when 683 new home bookings were registered, is a fifth of today’s result.

“I am certainly very satisfied with the situation and the results, but I try to be cautiously optimistic. So far, the pandemic has not been controlled, with a growing number of cases in Lithuania, well above the rates of the first wave, so uncertainty about the coronavirus situation persists. I’d rather see a consistent high score over the long term than a jump to the top followed by another drop. However, so far all signs allow us to hope for the best: the Vilnius market will return to its previous potential and long-term sustainable growth, ”says Šarūnas Tarutis.

According to analysts, 569 apartments (flats and cottages) were booked on the Vilnius property market in September. That’s 30 percent. more than 2019 in September. The number of reserved homes in the third quarter came to 1,464, almost the same as at the same time last year, when 1,466 were reserved.
On the other hand, during the nine months of this year, a total of 3,627 homes were reserved in the capital. That is 20 percent. less than in the 2019 record (4,744 reservations in the previous period). Three months of quarantine had this effect.

It is true that, according to the company’s experts, it is worth mentioning that it was necessary to recalculate the “fallen” reserves of several projects, which caused the results of a few months to explode. It is also worth mentioning that this year the interest of Lithuanians living or living abroad in Lithuanian real estate has increased. part of your property here and acquired.